Property Prices Dip

According to a national property industry report, housing prices have fallen by 1.2% across most of the country.The RP Data-Rismark Hedonic Home Value Index , a monthly report which measures the cost of residential properties throughout Australia, has reported a slight dip for the month of May across each city’s home values.Perth and Hobart proved the exception, as their property prices rose 1% and 2.2% respectively, according to the Index.Despite recording a fall for the month of May, the second consecutive month in which home values recorded a decline, they are still 2.9% higher when compared to the same month last year.The data revealed that Sydney residential property prices remain the highest, with the median value - including both units and houses - currently at $580,000.Source: http://www.news.com.au/realestate/news/property-prices-slip/story-fncq3gat-1226656639356

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